The 46th Finance Minister of India
The 46th Finance Minister of India, Nirmala Sitharaman, is a member of the Indian Parliament and an economist. She is the first female finance minister in the country's history. She is also a member of the Rajya Sabha, the upper house of the Indian Parliament.
Nirmala Sitharaman is the 46th finance minister of India
Nirmala Sitharaman is set to chair the 46th GST Council meeting on December 31. She will be joined by other finance ministers from states and senior officials. The meeting is important because it comes ahead of the Union Budget, which will be presented in Parliament on the first day of February. The meeting will focus on the GST compensation to states, which has resulted in a revenue shortfall for states because of the subsumption of local taxes by the GST.
Sitharaman's claims about her PhD degree in economics have prompted criticism from the opposition, who claimed that she didn't have the necessary expertise to take the job. While the Rupee continues its recovery from the Covid-19 pandemic, retail inflation remains a concern. It has crossed the RBI's tolerance limit of 6% and has risen to a five-month high.
While in Washington DC, Nirmala Sitharaman met with OECD Secretary General Mathias Cormann and UNDP Administrator Achim Steiner. She emphasized Prime Minister Narendra Modi's vision of sustainable ecosystems. Lifestyle for Environment is an ongoing global initiative that will be a focal point during India's G20 presidency.
Nirmala Sitharaman is also the first full-time woman Finance Minister. She is also the second woman to hold the position of Defence Minister. Sitharaman also spoke about the role of finance in the development of a country's economy. Among other topics she addressed, the importance of investing in the country's infrastructure and integrating the two with technology. She also stressed that India should not become dependent on global economies to boost GDP.
She is the country's first female finance minister
Chrystia Freeland has been named as Canada's new finance minister. She will be tasked with steering Canada out of the severe economic downturn and back to stability. Her appointment comes one day after her predecessor abruptly resigned. Freeland has previously held high-level cabinet posts, including foreign minister. She is considered a trusted ally of Prime Minister Justin Trudeau. She will retain her post as deputy prime minister.
Dr. Okonjo-Iweala has received international awards for her work as finance minister. In 2014, she was named Finance Minister of the Year by Africa Investor Magazine. In 2005, she won the Global Finance Minister of the Year Award from EUROMONEY. She has also received the National Honors of Liberia, Cote d'Ivoire, and Nigeria.
Andersson has a long career in politics and is widely respected as a strong negotiator. She was also a junior swimming champion and held a senior position at the Swedish Tax Agency. She was educated at Harvard University and later attended the Stockholm School of Economics. She and her husband are also passionate about hiking.
In addition to her career achievements, Malado has received numerous awards for her work in politics. She was named a member of the inaugural cohort of Amujae Leaders, a program of the Ellen Johnson Sirleaf Presidential Center for Women and Development, and received the AllAfrica Women Leadership Award for Public Administration in November 2018. Furthermore, in December 2017, she was named as one of the 10 Best Finance Ministers in Africa.
She will bring agenda of cryptocurrency regulation to G20 meeting
India is set to take over the G20 presidency next year and is expected to address international taxation and the regulation of crypto assets. The G20 is an intergovernmental forum of 19 countries and the European Union. The G20's purpose is to address major global issues, including climate change and sustainable development. Finance Minister Nirmala Sitharaman is expected to take up the topic of cryptocurrency regulation at the meeting.
Cryptocurrency regulation is an issue that should be a priority for the international community, according to India's Finance Minister Nirmala Sitharaman. The cryptocurrency boom and regulation are a growing concern worldwide, and Sitharaman wants to bring the issue to the forefront during next month's G20 meeting.
India has started a pilot program to regulate crypto assets. Its Finance Minister Nirmala Sitharaman recently told ICRIER that the country is seeking global regulation of cryptocurrency. The country's central bank, the Reserve Bank of India, has already approved a tax regime for cryptocurrency.
India has a long-standing draft crypto bill. Its aim is to make it legal to use cryptocurrencies and become compliant with the Financial Action Task Force (FATF) regulations. The Finance Minister also called on the International Monetary Fund (IMF) to lead the effort in regulating the crypto market. The IMF has agreed to work with India in this regard.